Briefly Business

Tata Motors launches Magic IRIS,Ace Zip

Mumbai: Tata Motors on Tuesday launched its four-wheeler small passenger carrier Magic IRIS and 600-kg smart micro truck Ace Zip,priced at Rs 1.95-lakh and Rs 1.90-lakh ex-showroom Thane near Mumbai,respectively.

RComm redeems bonds worth 500 mn

New Delhi: Private telecom operator Reliance Communications RComm on Tuesday said is has redeemed convertible bonds worth 500 million that were issued in May,2006. The company has redeemed all outstanding Zero Coupon Foreign Currency Convertible Bonds FCCBs by making payment on due date May 9,2011, the telecom service provider said in a filing to the BSE.

RIL to partner more players in fin biz

New Delhi: Aiming to cash in on the rapid growth of countrys financial services sector,Reliance Industries will seek partnerships with leading global players in this pursuit,the companys billionaire chief Mukesh Ambani has said. The group has already been approached by several global financial services companies for possible partnerships,Ambani said in his annual communication to shareholders.

RFQ for Cheyyur UMPP to be invited soon

New Delhi: State-run Power Finance Corp on Tuesday said the initial bids for a proposed UMPP in Tamil Nadu will be invited in June or July. RFQ Request for Qualification inviting bids for the Cheyyur UMPP in Tamil Nadu would be floated in June or July, Power Finance Corp CMD Satnam Singh said.

Future Ventures drops 17 per cent on debut

Mumbai: Kishore Biyani-led Future Ventures India on Tuesday disappointed the bourses in its debut listing following lukewarm response from investors. Shares of the company ended at Rs 8.30,down Rs 1.70,or 17 per cent from its issue price of Rs 10 per share. The stock moved in the range of Rs 7.95 and Rs 9.50 on the Bombay Stock Exchange BSE with the counter clocking a combined turnover of over

Rs 200 crore on both the exchanges.

Galaxy Surfactants IPO opens on May 13

Mumbai: Specialty chemical maker Galaxy Surfactants is planning to raise as much as Rs 201 crore from the market through an initial public offering which opens on May 13. The company has priced the 5.93 million offering in the range of Rs 325 and Rs 340 per share.